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Post by navinjh on Oct 17, 2016 4:26:22 GMT
Repost from over at Stockhouse. EconPhD wrote to IR and did receive a reply:
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Can you comment on the following two things? 1) Is the first SDI deal still ongoing with financing in the final stage? The SDI pursuit is ongoing. Any material news will be issued via full disclosure news release.
2) Did Intermap not pay its fees to OSC?
Yes it appears one of the fees was missed. This was unintentional. Intermap intends to meet the requirements and maintain its listing. Nothing more to it and nothing to read into here.
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As an FYI from digging into LinkedIn and Twitter, it appears that Kevin Burns (Orion_Builder at Twitter) left Intermap in August '16. Dan Lynch also appears to no longer be with Intermap.
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Post by captsmith77 on Oct 17, 2016 7:14:35 GMT
I think we are all forgetting that management has stated many times in the past that if SDI #1 was cancelled, then they would be obligated to press release that information. They have not. There are still plenty of reasons to be excited about the future of this company. It's under new management now, so they may not announce any cancellations. Back when I first came across this company and stock, the true value that I saw in it was the potential for multiple SDIs, with the belief that I could hold onto my shares beyond the first SDI project having commenced. Well, as weeks and weeks passed after having bought into the stock with no progress being made with the first project, and zero mention of the second one, I had to reevaluate my position and understood that the moment SDI #1 started that I would need to sell my shares and never look back. It wasn't because I thought that the company was crap or anything necessarily, but rather the fact the length of time it takes to get these projects with third world countries going was such a question mark that one cannot properly place a fair valuation of the company going forward. You also had internet bloggers claiming they owned over a million shares, and we all knew that they would dump their shares the first chance they got at making any money. It was part of the problem all along, and in hindsight I wish that I had sold my shares back when I could have profited over .40. Instead I took a significant loss. Now the year is almost over, and all the company has going for it is debt and more debt. Sure, they have the IP and Orion may be worth something to someone, but the guy that knew this type of business (and possibly others) was clearly pushed out, and now the company financing them all along is essentially pulling the strings. While it's possible that shareholders may get something out of this whole debacle, I'm sorry if I don't see anything that remains exciting about this company; at least no reason to rush back in and buy shares for pennies on the dollar.
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Post by furbush87 on Oct 17, 2016 12:43:11 GMT
FYI, DRC has announced today that Kabila will remain President until elections held in 2018, a Prime Minister will be appointed from a minor opposition party. Major opposition party leaders did not participate in the negotiations and plan protests on Wed. I would say this week will be the telling factor of stability in the country. If that is something that has been a hold up, I would say this week is a pivotal moment.
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Post by furbush87 on Oct 17, 2016 12:46:04 GMT
I think we are all forgetting that management has stated many times in the past that if SDI #1 was cancelled, then they would be obligated to press release that information. They have not. There are still plenty of reasons to be excited about the future of this company. It's under new management now, so they may not announce any cancellations. Now the year is almost over, and all the company has going for it is debt and more debt. Sure, they have the IP and Orion may be worth something to someone, but the guy that knew this type of business (and possibly others) was clearly pushed out, and now the company financing them all along is essentially pulling the strings. While it's possible that shareholders may get something out of this whole debacle, I'm sorry if I don't see anything that remains exciting about this company; at least no reason to rush back in and buy shares for pennies on the dollar. It is a material event, so they have no choice as long as they are a publicly traded company. I agree with much of what else you said, though if they can get a contract going with Malaysia the rest of SE Asia should follow suit. The problem of course is that Malaysia was in the "final stages of negotiation" 15months ago, and was expected to start in Q1 2016, that didn't pan out.
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5s
New Member
Posts: 20
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Post by 5s on Oct 17, 2016 14:32:10 GMT
FYI, DRC has announced today that Kabila will remain President until elections held in 2018, a Prime Minister will be appointed from a minor opposition party. Major opposition party leaders did not participate in the negotiations and plan protests on Wed. I would say this week will be the telling factor of stability in the country. If that is something that has been a hold up, I would say this week is a pivotal moment. This week will be an interesting one but the real test will be on December 18th. With a lot of the international community pushing for a 2017 election this could get ugly. December 18th is when we will really see a pivotal moment, until then I predict more instability.
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Post by furbush87 on Oct 17, 2016 15:06:36 GMT
FYI, DRC has announced today that Kabila will remain President until elections held in 2018, a Prime Minister will be appointed from a minor opposition party. Major opposition party leaders did not participate in the negotiations and plan protests on Wed. I would say this week will be the telling factor of stability in the country. If that is something that has been a hold up, I would say this week is a pivotal moment. This week will be an interesting one but the real test will be on December 18th. With a lot of the international community pushing for a 2017 election this could get ugly. December 18th is when we will really see a pivotal moment, until then I predict more instability. I think you misread what I said. The DRC has already made it official that no election will take place. So if the international community is going to make a push, it will be this week, no reason for them to wait 2 months when the plan is public now.
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Post by kclawdog on Oct 17, 2016 16:07:15 GMT
LinkEU not waiting to threaten sanctions.
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5s
New Member
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Post by 5s on Oct 17, 2016 16:33:34 GMT
This week will be an interesting one but the real test will be on December 18th. With a lot of the international community pushing for a 2017 election this could get ugly. December 18th is when we will really see a pivotal moment, until then I predict more instability. I think you misread what I said. The DRC has already made it official that no election will take place. So if the international community is going to make a push, it will be this week, no reason for them to wait 2 months when the plan is public now. It might be the way i wrote my response. There are 2 different things happening. The international community and the local opposition. The international community: Th EU has already said that they will not support a 2018 election time line. EU is hoping that the the sanction will push Kabila to shortened his time line of the elections as he will loose the support from some his close friends/government officials. The risk for Intermap is for Canada and US to also jump on the sanctions bandwagon. This would have a impact on business transactions with the country and can have repercussions on Intermap's ability to continue business in the region. Then there are the local opposition... this is the biggest issue for civil unrest. The opposition camps has already said Nov 18th is a yellow card... December 18th is a red card. 3 possible outcome: -Kabila changes the time line of elections for 2017: International community AND local opposition all agree on a truce = Win -Kabila changes the time line of election for 2017: International community drops sanction for the time being but the opposition still goes forwards with their threats = Not a win -Kabila stays the course with a 2018 elections time line: International community increases sanctions and the opposition goes forward with their threats = Lose Really the only way i see a potential win at this point is for the sanctions to work on Kabila by pushing his allies to stop supporting him and opening the dialogue for a more "acceptable" time line for all the parties involved. This seems far fetched but with Congo being emerging from so many years of war maybe it is a real possibility.
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Post by nex on Oct 17, 2016 17:40:31 GMT
DRC elections put back to 2018, as opposition calls strike in protest
Democratic Republic of Congo (DRC)’s governing coalition and other smaller parties have agreed to delay next month’s elections to April 2018 – a move that will anger opposition groups, which have accused the president of trying to cling on to power.
DRC’s main opposition bloc was not immediately available for comment but has already called a general strike for Wednesday to press President Joseph Kabila to leave at the end of his mandate in December.
Last month dozens died in two days of protests in the capital, Kinshasa, against planned delays to the vote due to what authorities said were logistical problems registering millions of voters in the massive and impoverished country.
US pushes for sanctions against Congolese president's inner circle Read more Parties had agreed in talks on Saturday to give more time for voter registration and to keep Kabila in office until the delayed vote, said one organisation in the discussions, the opposition party the Union for the Congolese Nation. Delegates at the talks would be likely to ratify the decision on Monday, the statement said.
The president of the Union for the Congolese Nation, Vital Kamerhe, is widely expected to become prime minister as part of the power-sharing government ushered in under the talks.
Kabila, who came to power in 2001 when his father was assassinated, says he will respect the constitution but has yet to rule out attempting to change the country’s laws to enable him to run for a fresh term.
The presidents of neighbouring Rwanda and Congo Republic changed their constitutions last year to allow themselves to stand for a third term, and Kabila’s opponents say they fear he will do the same.
Hundreds of people have died since last year in neighbouring Burundi after its president, Pierre Nkurunziza, pursued and won a third term in office that his opponents say is unconstitutional.
The head of the UN mission in Congo warned last week that the political impasse poses an “extreme risk” to stability.
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Post by furbush87 on Oct 18, 2016 20:37:23 GMT
I am not sure anyone is going for the fact elections are going to be delayed until April 2018. The international community is not going for that. Plus, the so-called agreement the ruling party and collation partners have agreed on does not include most formal opposition parties. Also, the supreme court approved it until April 2018- Historically they have not acted in an independent way (in the view of international observers). Hard not to see violence occurring unless the international pressure forces elections to happen much earlier. Having said that, I think the SDI project is much less sensitive to the geopolitical environment than we think. Remember that the political situation in the DRC was not much different when the SDI was RFP'd and awarded than what it is now-- I think investors and multi-lateral institutions understood that there has never been a peaceful transfer of power-- the geopolitical environment matters, but not as much as people think. The fact the DRC is in the situation it is should not be a shock. This is not an advanced economy. Africa is an easy target as it is so democratically unstable and kleptocratic. Many countries struggle with this end of things, it is not correlated to development and investment. Geopolitics matters, but it is one factor among many. Tomorrow will be significant I think. The first organized protest after this announcement, if it is managed well, I think everyone will eventually accept the current plan. If it is bloody, things will get complicated. Either way, I'm not convinced that Intermap gets started over there this year.
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Post by kclawdog on Oct 18, 2016 21:10:54 GMT
I'm not so sure everyone will accept the current plan. The main opposition want Kabila gone, they boycotted the talks with him and the minor opposition, so they don't seem interested in a compromise that leaves Kabila in charge. Kabila could have and still could defuse this at anytime by saying he will step down on Dec 18th, he hasn't so clearly he wants to stay in power and presumably not just as a caretaker for an interim government.
Over on Seeking Alpha, JMY made the comment: "All that said, I like Intermap at these levels with new management and a new approach. I'm planning to put a long thesis together when I have time to write it up."
Definitely curious to see his bear-turned-bull thesis.
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Post by robertku on Oct 21, 2016 14:00:53 GMT
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Post by ctblizzard on Oct 21, 2016 15:41:02 GMT
Not sure how you think the price where it is is crazy?
The price is about where it was before the award when it had many millions less in debt. Despite assurances of things being on track for over a year and even in the final stages the company has oozed red ink waiting for a contract which as of yet has not come. Management has been replaced and new management has gone dark in terms of giving you info. Intermap is essentially controlled by people that it owes over 30 million dollars to now that happens to be a hedge fund. They can equitize at any time to pull more of the pie their way with any good news or deal as well.
All the reams of "due diligence" by a gang that was selling while you were buying (along with institutions) is why this stock is here now. As someone on the long dead reddit thread on this stock pointed out the company has been talking about a pipeline in the hundreds of millions for many years.
I do not think this stock will ever see 30-50 cents again in my opinion. I think Vertex will be out in 3-4 months. But at these levels , things certainly look a lot better than the poised to triple price of 46 cents. Now the former names are mostly gone and new names are posting. First up was the fake merger with Geo Tech Data. In my opinion best case scenario is 15-20 cents based on discounted value of NOLs in the right kind of deal. Not sure what Vertex will leave on the table for shareholders here.
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Post by edftyui on Oct 21, 2016 22:37:34 GMT
Ctblizzard--you've been talking about these mysterious posters who were secretly selling while simultaneously pumping the stock on these boards and others. Not sure why you'd be guarding their names. I would love to know who these mysterious people were that you uncovered.
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Post by JHam on Oct 22, 2016 9:08:54 GMT
Thanks for the link. Glad to know that JMY shares pretty much the same view as some of us here since the recent management shake up.
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Post by kmacroecon on Oct 24, 2016 14:00:26 GMT
A historic signing ceremony of the Agreement reached between the Presidential Majority, opposition political parties and the civil society in the dialogue took place in Kishasa, DRC on 18th October, 2016. The Agreement was a result of successful African Union led National Dialogue facilitated by H.E. Edem Kodjo and supported by the Support Group, comprising of the African Union, SADC, ICGLR, EU, UN Special Envoy and the International Organization of la Francophonie (IOF). The Agreement paves way for a smooth transition leading to provincial, parliamentary and presidential elections by April 2018. Depending on the availability of resources, the local elections may also be held alongside these elections, or six months after the Presidential, Parliamentary and provincial elections. The Executive Secretary of SADC, Dr. Stergomena Lawrence Tax, on behalf of the SADC Secretariat, attended the signing ceremony.
I don't think there is a carte blanche solution by any stretch but it is very encouraging that the African Union and UN Special Envoy are involved here, does give it a degree of international legitimacy.Certainly a reason to be cautiously optimistic.. still a lot of violence.
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Post by kclawdog on Oct 24, 2016 15:20:14 GMT
Those are talks the major opposition boycotted and the Catholic church of DRC pulled out of. That agreement has unfortunately not changed anything for those who are worried about Kabila. Kabila it seems is going around talking to his neighbors to try and get their backing. LinkStill almost two months until the "red card" day, so maybe something can happen to avert violence.
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Post by kmacroecon on Oct 26, 2016 16:31:52 GMT
How former CFO describes his achievements at Intermap-- from LinkedIn. Not sure Investors would attest that this is a reality (yet.)
"• Partnering with the CEO, over a 3-year period, developed and sold the largest contract in the Company’s history, valued at $175M. Result: attracted $25M+ of investment and established the Company as a leader in the industry. "
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Post by captsmith77 on Oct 27, 2016 12:54:37 GMT
How former CFO describes his achievements at Intermap-- from LinkedIn. Not sure Investors would attest that this is a reality (yet.) "• Partnering with the CEO, over a 3-year period, developed and sold the largest contract in the Company’s history, valued at $175M. Result: attracted $25M+ of investment and established the Company as a leader in the industry. " Kind of reminds me of when I was "invested" in Inergetics, which sold different brands of supplements. Reading LinkedIn pages from various employees of the company one would have thought that the company was a winner and that the brands were very successful. It was a stark contrast to the hard truth.
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Post by seamonkey on Oct 27, 2016 13:47:15 GMT
Funny stuff kmacroecon and so true captsmith77...While he technically did have a hand in "...develop and sell the largest contract in the Company's history..." it stands as a stark reminder that puffing and fluff rule the day when promoting oneself. As an employer, if I had simply relied on what potential employees wrote on their resumes, cover letters, and touted on LinkedIn, I'd be out of business. Everybody touts that they've saved the world yet they're out of a job looking for work. If he, in fact, delivered on that contract, "...the largest in the Company's history...", he should be on a pedestal...not unemployed! lol...
Regardless, Im happy with the management changes, disappointed in price action, but as always, it will move based on future news, one way or the other. We just wait!
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